Debt collection companies to come under CFPB supervision
Beginning in January, larger debt collectors will come under the regulatory supervision of the Consumer Financial Protection Bureau.
Beginning in January, larger debt collectors will come under the regulatory supervision of the Consumer Financial Protection Bureau.
When it comes to qualified mortgages, the difference between a safe harbor and rebuttable presumption is “a bit of a mirage,” Consumer Financial Protection Bureau Director Richard Cordray remarked before the House Financial Services Committee on Sept. 20.
At more than $1 trillion, student loan debt is now the largest source of consumer debt, even ahead of credit cards.
David Stein, a former attorney with the Federal Reserve and the Consumer Financial Protection Bureau, offers this “heads up” to non-bank “larger participants” in the consumer financial services marketplace.
The Consumer Financial Protection Bureau has handled nearly 80,000 consumer complaints since the Bureau opened on July 21, 2011.
The Consumer Financial Protection Bureau issued its third major enforcement action, this time against American Express.
The Consumer Financial Protection Bureau announced the creation of a Community Banks Advisory Council on Sept. 12.